Page 8 - Do Kwon News Today

Just before the collapse of the companys crypto assets, Kwon allegedly sent 9 billion won, or approximately $7 million to a top South Korean law firm Kim & Chang, according to a report.

The former crypto fugitive is currently detained in Montenegro, waiting as authorities investigate his alleged use of fake travel documents.

An unnamed South Korean prosecutor confirmed that "It has been found that there is very little property formed and owned by CEO Kwon in the country."

South Korean authorities are not leaving anything to chance as they try to turn all the stones in the ongoing investigation concerning Terraform Labs.

Despite the arrest of Do Kwon, the founder of Terraform Labs, who was on the run in Montenegro, prosecutors in Korea have been unable to obtain arrest warrants for other persons of interest in the case. This could complicate Koreas efforts to have Kwon extradited.

Montenegro jails and prisons are known for "torture and other cruel, inhuman or degrading treatment or punishment," as per a 2020 report, and "things havent changed," a lawyer reportedly claimed.

Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion or more last year, has been charged with fraud by U.S. prosecutors.

Just weeks after Do Kwons name was included in Interpols red notice list, he registered a company providing consultancy services and paid 100 Serbian dollars or around $0.92, a report said.

PODGORICA, Montenegro: The United States and South Korea have sought the extradition from Montenegro of fugitive cryptocurrency entrepreneur Do Kwon, the country's minister of justice said on Wednesday, just days after he was arrested in the Balkan nation.

South Korean authorities have alleged in the past that Daniel Shin earned approximately $105 million in profits from illegal sales of LUNA before its fateful implosion.